Loan
This query is : Resolved
24 January 2009
If any private company can take loan from the following persons is perimitted
1) Directors of the company
2) Any other persons
3) Registered Private money lenders
4) Relatives of director
If not permitted what wil be the effect of this transaction. Please advise me in detail.
1) Directors of the company
2) Any other persons
3) Registered Private money lenders
4) Relatives of director
If not permitted what wil be the effect of this transaction. Please advise me in detail.
24 January 2009
Loans in a private company can be obtained only from shareholder, banks and financial instituitons or private finance companies registered under companies act.
If you take loan from others then it becomes violation of 58A under companies act, ie accepting deposits without rbi approval.
If you take loan from others then it becomes violation of 58A under companies act, ie accepting deposits without rbi approval.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- E way bill for tractors
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Loan by Partnership Firm
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
